what is a contra entry how it is passed in journal and
cashbook
Answer Posted / balaji
contra entry is one where there has to be two corresponding entries for one transaction. when cash is deposited into bank, bank balance increases and cash balance decreases. in a multi column cash book, two corresponding entries has to be passed.
Is This Answer Correct ? | 4 Yes | 1 No |
Post New Answer View All Answers
Expand---------PDBC
what is the uniform public construction cost accounting act?
Should I have perfect credit score, that is, above 800 credit score?
what are the types of provisions that you would make for the end of a financial year?explain
Which entry we pass self entry like cash withdraw for ourself
how to prepare the balance sheet of private ltd. company & what roll should be play by Income tax, compnay law & accounting standard in India & world.
let me know the meaning and Nature of cash
Received an order from Babu for the supply of goods Rs.200/-. state whether the the following transcation is business transcation or non business transcation? with reson or explaination?
Can I freeze my account?
What was use of tally erp 9? Types of vat?
Ledger Is The Principle Book Of Accounts In Business. Do You Agree For It. Comment On Your Confirmation?
what is your achievements?
which are company offering jobs in PORTFOLIO MANAGEMENT ?
plz send me the accounting questions and answers of bank of america.
What is revaluation of assets.when it occurs